Blackbird Energy Inc. Announces Increase to Unit and CDE Flow-Through Share Financing from $20 Million to $25 Million and Filing of Amended and Restated Preliminary Prospectus

CALGARY, ALBERTA--(Marketwired - April 26, 2016) -

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Blackbird Energy Inc. ("Blackbird" or the "Company") (TSX VENTURE:BBI) is pleased to announce that it has filed an amended and restated preliminary short form prospectus in connection with a marketed public offering, through a syndicate of agents (the "Agents"), co-led by Dundee Securities Ltd. and Haywood Securities Inc., and including Scotia Capital Inc., Raymond James Ltd., Cormark Securities Inc. and Mackie Research Capital Corporation, of: (i) up to 153,400,000 units ("Units") of the Company at a price $0.15 per Unit, for gross proceeds from the offering of Units of up to $23,010,000 (the "Unit Offering"); and (ii) up to 13,400,000 common shares of the Company ("Common Shares") to be issued on a "CDE flow-through" basis ("Flow-Through Shares") at a price of $0.15 per Flow-Through Share, for gross proceeds from the offering of Flow-Through Shares of up to $2,010,000 (the "Flow-Through Offering", and together with the Unit Offering, the "Offering"). The aggregate gross proceeds from the Offering will be up to $25,020,000.

Each Unit will consist of one Common Share and one Common Share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the holder thereof to acquire, subject to adjustment in accordance with the indenture governing the Warrants, one Common Share (each, a "Warrant Share") at an exercise price of $0.30 per Warrant Share, at any time prior to the date that is 60 months following the closing date of the Offering (the "Closing Date"). The Warrants will be governed by a warrant indenture to be entered into on or before the Closing Date between Blackbird and Computershare Trust Company.

The Agents have been granted an over-allotment option, exercisable in whole or in part for a period of up to 30 days following the Closing Date, to offer for sale up to an additional 15% of the Units sold pursuant to the Unit Offering on the same terms, as described above. The Agents have also been granted an over-allotment option, exercisable in whole or in part prior to the Closing Date, to offer for sale up to an additional 15% of the Flow-Through Shares sold pursuant to the Flow-Through Offering on the same terms, as described above.